Former RBA deputy governor amongst ART board and investment committee appointments

The Australian Retirement Trust (ART) has appointed several prominent Australian leaders to its board of directors and investment committee, including the former deputy governor of the RBA. The three appointments bring vast experience from leadership positions in global financial services, investments, and governance roles: Mark Burgess will join the ART board as a director after … Read more

ASIC launches first court action against alleged greenwashing

ASIC has launched its first court action against alleged greenwashing conduct, commencing civil penalty proceedings in the Federal Court against Mercer Superannuation for allegedly making misleading statements about the sustainable nature and characteristics of some of its superannuation investment options. In a media release on Tuesday morning, ASIC alleged Mercer made statements on its website about … Read more

Advice review proposals draw concern around re-emergence of vertically-integrated models 

While super funds are supportive of the Quality of Advice Review recommendation to allow them more flexibility to give advice, the proposal to allow others to provide advice if the client is not paying a fee has raised the risk of the re-emergence of vertically-integrated advice models.  

 

‘Nuts’ not to explore super funds investing for the national interest: Jones 

Trustees will always be free to investment members’ money in the way they consider best, according to financial services minister Stephen Jones. However, it comes with the caveat that doing so must align with a yet-to-be agreed objective for super.